Skip navigation

Gloucestershire Business News

Cost of new nuclear power plant continues to rise

The cost of the new nuclear power plant at Hinkley Point C in Somerset has risen by £1.5 billion to £19.6 billion.

But EDF Energy, which is building the plant and has a major centre at Barnwood, has sounded a confident note about the progress of the project.

EDF said: "The estimated additional costs result mainly from a better understanding of the design adapted to the requirements of the British regulators, the volume and sequencing of work on site and the gradual implementation of supplier contracts."

EDF is building two new reactors on the site and they are expected to provide seven per cent of the UK's power over 60 years.

The project is expected to provide a major boost to the region's economy with the creation of around 25,000 jobs.

EDF said: "The construction of Hinkley Point C continues to make good progress with 1,600 workers on site each day. Concrete has been poured to build the first permanent structures at the power station and construction has begun on a 500m temporary jetty which will bring 80 per cent of materials to the site by sea."

The first new nuclear plant in the UK for a generation, it will take ten years to complete.

Pictures: EDF Energy

What do you think? Email mark@moosemarketingandpr.co.uk 

Related Articles

GE Aerospace sees orders and profits soar Image

GE Aerospace sees orders and profits soar

GE Aerospace has raised its full-year profit guidance after releasing its first quarter financial results.

Decathlon extends sustainable sport gear scheme Image

Decathlon extends sustainable sport gear scheme

Sports retailer, Decathlon, has expanded its sports gear buyback scheme.

Profits drop 12% for Barclays Image

Profits drop 12% for Barclays

Financial pain as mortgage crisis recoils on lenders.

WH Smith sales growth driven by travel performance Image

WH Smith sales growth driven by travel performance

WH Smith is in its strongest ever position as a global travel retailer, its CEO said today.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.